By Sheri Kasprzak
New York, Oct. 5 - Great Panther Resources Ltd. said it has pocketed another $1,932,750 from its previously announced private placement.
In the most recent closing, the company sold 4,295,000 units at C$0.45 each.
The units include one share and one half-share series H warrant. The whole warrants are exercisable at C$0.62 each through Oct. 4, 2006.
On Sept. 14, the company sold 8,068,000 units under the same terms.
The company intends to sell up to 12,363,000 units.
Union Securities Ltd. is placement agent.
Based in Vancouver, B.C., Great Panther is a silver exploration company. The proceeds will be used for working capital, including the rehabilitation of the company's Topia silver mine in Durango. The remainder will be used for other exploration activities and investigations into asset acquisitions.
| Issuer: | Great Panther Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1,932,750
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| Units: | 4,295,000
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| Price: | C$0.45
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| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
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| Warrant strike price: | C$0.62
|
| Placement agent: | Union Securities Ltd.
|
| Settlement date: | Oct. 5
|
| Stock price: | C$0.58 at close Oct. 5
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